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you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how would you invest, and when you recognize that none of us probably know and got it wrong the last time the debt ceiling came around. still be conservative and get some great balance sheet, but some names like john ehrlichman. could go savnlt these are names with big balance sheets will last you through to the. >> rick santelli, we spoke to you earlier on the show, did i get the impression that you're feeling a little more helpful? are you feelingmore so after speaking with the senators. >> i think the party will be with the parties doing the right place to actual
you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how...
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Dec 14, 2012
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thank you so much, eamon javers in washington. neither side seems closer to signing on the dotted line so is congress living on borrowed time with the markets as it drags out the process in the next couple of weeks? christopher whalen is with me and says the market will throw a tantrum if we don't get a deal and another says the markets will trade sideways to slightly lower from now until year end. >> you think the markets have actually baked in no deal? >> i think there's likely to be a deal by late december, early january, last minute and the markets are poised to rally. i think they are kind of going sideways the next few days or so. i think they are probably going to rally in the year end, early january and then i'd be worried about a downtown because i think the first quarter will be surprisingly weak in the united states. >> the first quarter will be weak. we already know about the anticipation going into the first quarter. the reason i'm stuck on this question is you think that this is baked in because i think the market is
thank you so much, eamon javers in washington. neither side seems closer to signing on the dotted line so is congress living on borrowed time with the markets as it drags out the process in the next couple of weeks? christopher whalen is with me and says the market will throw a tantrum if we don't get a deal and another says the markets will trade sideways to slightly lower from now until year end. >> you think the markets have actually baked in no deal? >> i think there's likely to...
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Dec 21, 2012
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will anybody rise above in washington? insight from washington post economic policy reporter and from capitol hill, politico's senior congressional reporter. welcome to "power lunch" guy webs good to see you. let me start with you. what happens at this point? can anything be done or are we going over the cliff? >> the chances offi going over e cliff is very, very serious at this point. what do they do? they are trying to figure that out themselves right now. do they bring up a bill right now and try to force speaker boehner's hand and have him accept any sort of tax increase, at least allow a vote and something that could pass in the house? mainly by democratic votes? that is unclear at this point. right now, harry reid is calling on the house to pass their enate bill and speaker boehner is relenting at there point. >> zachary, you cover economic policy. can you give me any clues of what is happening behind the scenes? are republicans saying, good gosh, if they would means test medicare and change retirement age, i would m
will anybody rise above in washington? insight from washington post economic policy reporter and from capitol hill, politico's senior congressional reporter. welcome to "power lunch" guy webs good to see you. let me start with you. what happens at this point? can anything be done or are we going over the cliff? >> the chances offi going over e cliff is very, very serious at this point. what do they do? they are trying to figure that out themselves right now. do they bring up a...
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Dec 28, 2012
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just about the only thing going on in washington here today. if the white house knew that the president was not going to, making a new offer here today, a lot of the speculation that was going on early and mid-afternoon might have not been healthy necessary for the deal-making dynamic here, because a lot of people were speculating that in fact there was a deal, a mini proposal, something coming new from the president, and then we get to the meeting and find out, in fact, no new offer from the president, reiterating what he said last week on friday, so the speculation got well ahead of events here, and that sort of lends to an air of disappointment here in washington and up there on wall street. we still don't know what exactly happened in this meeting so we're waiting to find out. >> obviously the fiscal cliff is the crisis du jour, chad, were you saying you would prefer to use dips as opportunities. where do you think we will be 12 months from now? no doubt there will be another crisis that we're talking about in 12 months time. what it is we
just about the only thing going on in washington here today. if the white house knew that the president was not going to, making a new offer here today, a lot of the speculation that was going on early and mid-afternoon might have not been healthy necessary for the deal-making dynamic here, because a lot of people were speculating that in fact there was a deal, a mini proposal, something coming new from the president, and then we get to the meeting and find out, in fact, no new offer from the...
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Dec 26, 2012
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house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official told me that there have been no progress over the last couple of days, but an aide to senator harry reid told me there's still a 50/50 chance we get a mini deal that would put off the effects of the cliff at least temporarily and a 50/50 chance of that happening before january 1st. so even though there's a small number of days, sometimes the urgency of a deadline forces lawmakers to overcome differences they can't overcome otherwise. >> remind us, john, a mini deal is composed in the senate but still has to pass through house republicans and boehner or not? >> yes. and the
house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official...
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Dec 27, 2012
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starting with the budget crisis in washington. we learned just a few hours ago that not only is the fiscal cliff deadline on new year's eve, we are going to hit the debt ceiling on the very same day. we are about to go to washington for a live report. now to national weather. deadly storm slamming the midwest and the south now hitting the northeast. this is all coming just as millions of americans are waiting to take flights important the holidays. suburban new york newspaper chooses to publish the names and addresses of thousands of private citizens who have legal gun permits. can the mainstream media still claim not to hate all gun owners after a stunt like this? "the kudlow report" starts right now. let's get the latest on the snag on the fiscal cliff talks and surprise news we are going to reach the debt ceiling in days instead of just a few months. john harwood has the details. what's going on? >> not a whole lot of actions going on. although there have been some developments. let me bring our viewers up to date on those. fir
starting with the budget crisis in washington. we learned just a few hours ago that not only is the fiscal cliff deadline on new year's eve, we are going to hit the debt ceiling on the very same day. we are about to go to washington for a live report. now to national weather. deadly storm slamming the midwest and the south now hitting the northeast. this is all coming just as millions of americans are waiting to take flights important the holidays. suburban new york newspaper chooses to publish...
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Dec 27, 2012
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>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is not an immaterial risk. positioning portfolios, this is not an environment to hide and cash in treasuries but not blindly buy any and all equities out there, you pick the risks you take, buy quality dividend companies to protect those portions of your portfolio you're taking some equity risk with. use covered calls and sell options to cap your upside but give you extra cash flow in the other two environments, then use other defensive mechanisms, risk taking but still defensive in orientation. high yield bonds, bank loans, sovereign debt in the emerging markets getting 5-7% interest payme
>> i kind of agree with the consternation and concern of washington and everybody there. we look at the position of one of three possibility, back to upside normalized growth, complete downside recession. and the middle of the road scenario, we begrudge this and keep doing it sloppily every once in a while, as we have been recently but manage to make our way longer term. we think that scenario is more likely and the upside has to be discounted and downside scenario we have to recognize is...
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Dec 26, 2012
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we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the moment. 13,139 after a meandering much of the day. the nasdaq hardest hit today. technology has been very volatile recently. still down a fraction right now. 13 points, fraction percentage-wise and the s&p is down 3.33 at 1423. five days left until the fiscal cliff deadline, and though the market has been very resilient to this point, what happens if we go over the cliff and if lawmakers cannot get it together come january 1st? will it be a big meltdown for wall street? that's what everybody wants to know. >> certainly hope know. in today's "closing bell" exchange, former
we didn't get any presents from lawmakers in washington yet. we're still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by today's numbers the waiting game continues, although we thank brian sullivan and you, mandy, for bringing us back to positive territory in the last hour. >> i'm not sure we can take credit but we'll take it. >> the dow is up a fraction at the...
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Dec 28, 2012
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>> look, mandy, this is dysfunction palooza in washington. i've been talking about this since november. they can't get a deal done. they won't get a deal done. the market has been way too complacent. wall street, you were wrong. you were wrong. they are not going to get this deal done. the market is going to sell off chase to start 20 thrown. big >> it will continue to sell off. look, guys. here's the thing though. 25% right now of gdp is government spending. historically that's 20%. if there are going to be the spending cuts, that what we want to hear, john boehner. he's the adult in the room right now, guys and is looking like the bad guy because we have to stop the spending cuts. hitting the ceiling on the debt ceiling by monday. $16.3 trillion. you can't put a band-aid on this and suspect everything is going to be great and have howie mandel say deal or no deal. not good for the overall markets or economy. >> it's clear that revenue is not on the table. >> what do you do, run for the s? panic is not an investment strategy. give us some go
>> look, mandy, this is dysfunction palooza in washington. i've been talking about this since november. they can't get a deal done. they won't get a deal done. the market has been way too complacent. wall street, you were wrong. you were wrong. they are not going to get this deal done. the market is going to sell off chase to start 20 thrown. big >> it will continue to sell off. look, guys. here's the thing though. 25% right now of gdp is government spending. historically that's...
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Dec 28, 2012
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thanks, guys. >> there was another surprise coming out of washington today. the unexpected resignation of ep achieve lisa jackson. why is she lng now? is this good news for coal miners, frackers and the keystone pipeline and we're about to get more on that story just ahead. >> don't forget, free market capitalism is the best path to prosperity and not crushing regulations. the kudlow report is coming right back. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. this is how mommy learned... ...and now... you! [ giggles ] ♪ the one and only, cheerios >>> breaking news now. the associated press reporting that retired general norman schwarzkopf one of the heroes of the first gulf war has died in tampa, florida. he w
thanks, guys. >> there was another surprise coming out of washington today. the unexpected resignation of ep achieve lisa jackson. why is she lng now? is this good news for coal miners, frackers and the keystone pipeline and we're about to get more on that story just ahead. >> don't forget, free market capitalism is the best path to prosperity and not crushing regulations. the kudlow report is coming right back. mine was earned off vietnam in 1968. over the south pacific in 1943. i...
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Dec 10, 2012
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until we get a clearer signal out of washington. >> yes. and i think we're going to see this narrow trading range. if there's no resolution, i think the market might react negatively. but i think that's a short-term negative term. but i do think that's a negative possibility. and i do think there's a possibility nothing will come out. >> meantime, the economic reports coming out starting to soften a bit here. do you make of that? >> it's not surprising. i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
until we get a clearer signal out of washington. >> yes. and i think we're going to see this narrow trading range. if there's no resolution, i think the market might react negatively. but i think that's a short-term negative term. but i do think that's a negative possibility. and i do think there's a possibility nothing will come out. >> meantime, the economic reports coming out starting to soften a bit here. do you make of that? >> it's not surprising. i don't think the...
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Dec 27, 2012
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to be watching the news out of washington. we're going to be watching the vices to get a gauge of good opportunities to buy high quality dividend-paying stocks. >> okay. all right, brickland, going to have to be quick. what do you expect? >> i think data is on the sideline. all about the fiscal cliff. it's all about how the distrust in washington really makes some significant progress tomorrow. we need some movement from the president. we need some progress. so, we'll have our keen eye on that and more importantly, we'll have our keen eye on discussions surrounding the 2% payroll tax cut which has been quite absent. so, hopefully tomorrow we'll see some sort of progress on that front. >> all right, gentlemen, thank you both for, all three for joining us today and we will watch very carefully. tomorrow could be very, very interesting. that does it for us. thank you for watching. >> indeed. "fast money" starting right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here are tonight's t
to be watching the news out of washington. we're going to be watching the vices to get a gauge of good opportunities to buy high quality dividend-paying stocks. >> okay. all right, brickland, going to have to be quick. what do you expect? >> i think data is on the sideline. all about the fiscal cliff. it's all about how the distrust in washington really makes some significant progress tomorrow. we need some movement from the president. we need some progress. so, we'll have our keen...
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Dec 27, 2012
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they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i served in the house of representatives. there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. everyone knows, including the speaker of the house house of representatives today, that if they had brought the house -- i'm sorry, the senate-passed bill that would give relief to everyone making less than $250,000 a year, it would pass overwhelmingly. every democratic would vote for it and republicans would vote for it. but the speaker, he says no, we can't do that t ha
they are not in washington, d.c. the house of representatives are not here. they couldn't even get the leadership together yesterday. they had to do it with a teleconference. republican leadership. we go over the cliff, we will be left with the knowledge that could have been prevented with a single vote and the republican-controlled house of representatives. speaker, prior to this session starting today, the presiding officer and i had a conversation about how things have changed around here. i...
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Dec 28, 2012
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a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an environment of a slow, recovering economy. >> right. >> europe having ring fenced their problems. not solved them. but ring fenced them. and we're seeing the actions of the banks making their changes. it apyrpears to us we're at the early stage of a capital markets recovery as you start seeing the solutions work their way through. >> right. >> in to 2014 retailer investor begin to move into equities and out of fixed income. >> we can only hope. >> yeah. so let me ask you with that. do you go with those where margins are highest like a goldman? do you go where the geographic reach is broadest like a city? your favorite picks are goldman, some of the big center maxim right? >> citi certainly has an advantage in its position internationally as asia picks up citi is goi
a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an environment of a slow, recovering economy. >> right. >> europe having ring fenced their problems. not solved them. but ring fenced them. and we're seeing the actions of the banks making their changes. it apyrpears to us we're...
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Dec 28, 2012
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yes, milk cliff in 1929 a farm law was passed that had washington buy milk at inflated prices. if there's not a move to get a new bill, we'll all pay the price. phil is joining us. how much could a gallon go up to? >> well, mandy, you're right. it could go up probably $3 a gallon. it's not just about a milk cliff. while everybody is talking about the fiscal cliff, there's a farm cliff. secretary vilsack has been calling on the industry, calling on the senate and congress for months to avoid this problem because if the farm bill expires, we've got some real issues. >> so what do you think we should do, phil? what's the solution? >> well, bottom line is we've got to get everybody in washington to wake up. the senate passed it. the house ag committee passed it, but, you know, the house has really not allowed the debate to happen so as a result we've got all of this stuff happening and my fear is we're going to get lost. let's not forget, we've seen prices increase over the past two years dramatically, and especially after this summer's drought, prices went up even more. they're go
yes, milk cliff in 1929 a farm law was passed that had washington buy milk at inflated prices. if there's not a move to get a new bill, we'll all pay the price. phil is joining us. how much could a gallon go up to? >> well, mandy, you're right. it could go up probably $3 a gallon. it's not just about a milk cliff. while everybody is talking about the fiscal cliff, there's a farm cliff. secretary vilsack has been calling on the industry, calling on the senate and congress for months to...
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Dec 26, 2012
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meeting and you still have this problem that we have in washington called the fiscal cliff. i just don't like the way that one's playing out. the reason that's important is that when the market gets into risk op mode they tend to sell the dollar and buy the yen. >>> what kind of levels are we talking about? >> right now we're sitting around 8570. i would comfortably sell the dollar against the yen there. i would put a stop loss at 8715 and my target is 8265. >> nice to see you. hope you had a good holiday. look forward to catching up with you. >> likewise. >> guys, what do you make of what we've seen in dollar yen? weiss, do you have a play? doc? >> well, their market turned on this pretty dramatically. it posted up 1.5% gain on the weakness out of the yen. so if that continues into next year, scott, which based on what he's just said that will not happen, in other words, we're looking at more down side pressure, i think that's good for the markets though. >> joe, tell me why the viewer watching right now should care about what the yen does? >> they should care. this is a se
meeting and you still have this problem that we have in washington called the fiscal cliff. i just don't like the way that one's playing out. the reason that's important is that when the market gets into risk op mode they tend to sell the dollar and buy the yen. >>> what kind of levels are we talking about? >> right now we're sitting around 8570. i would comfortably sell the dollar against the yen there. i would put a stop loss at 8715 and my target is 8265. >> nice to see...
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Dec 20, 2012
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chief washington correspondent john harwood joins us from washington with the details. i look away for two seconds, john, and everything's falling astart. >> it looked a couple of days ago as if the two sides were getting closer. when president obama had a news conference at the white house today, he came out to talk about gun control measures in the wake of the connecticut tragedy, but the questions were mostly focused on the fiscal cliff. the president said he couldn't understand why john boehner was detouring to plan b because the differences are narrow enough that they can still work it out. >> i've said i'm willing to make some cuts. what separates suss probably a few hundred billion dollars. the idea that we would put our economy at risk because you can't bridge that gap doesn't make a lot of sense. >> the smackdown from john boehner came shortly afterwards. it was short and sweet. he spoke for less than a minute and he said the onus is going to be on president obama if we go over the fiscal cliff. >> tomorrow the house will pass legislation to make permanent tax
chief washington correspondent john harwood joins us from washington with the details. i look away for two seconds, john, and everything's falling astart. >> it looked a couple of days ago as if the two sides were getting closer. when president obama had a news conference at the white house today, he came out to talk about gun control measures in the wake of the connecticut tragedy, but the questions were mostly focused on the fiscal cliff. the president said he couldn't understand why...
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Dec 31, 2012
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it's down to the wire in washington. senate lawmakers try to craft a deal that's acceptable to both democrats and republicans as the hours tick down towards the fiscal cliff deadline. >>> china's manufacturing activity hits its fastest pace in a year and a half. >>> and as we head towards the end of the year, global markets look at decent returns, outperformers this year include german, japanese and hong kong stocks. the u.s. senate will meet at 11:00 a.m. eastern after lawmakers tried most of sunday to avoid a fiscal cliff. proposals moved back and forth including tying social security to the chained cpi index. aides say talks between harry reid and mitch mcconnell focus on extending middle class tax breaks and renewing unemployment benefits. president obama says the u.s. markets and economy will suffer if congress fails to act. and here is what the major players had to say at least publicly this weekend. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment w
it's down to the wire in washington. senate lawmakers try to craft a deal that's acceptable to both democrats and republicans as the hours tick down towards the fiscal cliff deadline. >>> china's manufacturing activity hits its fastest pace in a year and a half. >>> and as we head towards the end of the year, global markets look at decent returns, outperformers this year include german, japanese and hong kong stocks. the u.s. senate will meet at 11:00 a.m. eastern after...
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Dec 18, 2012
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however, jeff immelt is warning the issues in washington have taken a toll on business. ge is reportedly close to a deal to buy avio for as much as $4 billion. ge adding better than 1% in frankfurt trade, well outpacing the market. >>> and mcdonald's is hoping to get a few extra presents over the tree this year. the fast food giant has urged u.s. franchise owner toes be open to christmas day. that goes against the company's tradition of being closed on major holidays. the request was made in a memo to franchises in november. mcdonald's same-store sales did fall for the first time in october, but rebounded last month. the company attributes had part of that to stories that were open thanksgiving. now, following a year of considerable market shocks, we'll take a look at what's in store for 2013 and find out why our next guest says volatility is at a crossroads, just after this. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand t
however, jeff immelt is warning the issues in washington have taken a toll on business. ge is reportedly close to a deal to buy avio for as much as $4 billion. ge adding better than 1% in frankfurt trade, well outpacing the market. >>> and mcdonald's is hoping to get a few extra presents over the tree this year. the fast food giant has urged u.s. franchise owner toes be open to christmas day. that goes against the company's tradition of being closed on major holidays. the request was...
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Dec 17, 2012
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washington has set up already. so we get some sort of clarity, some sort of a plan, that's what the businesses have been asking for but it's not going to change things until late 2013, if not into two 2014. >> i think you're right, they've made their plans. in the environment changes they have all this cash they can make changes and make increment at purchases. at a plant somewhere, hire a worker or two, engage in m&a if they have more confidence in the future. so i think they can turn things around. but they need more confidence and that's a big if. >> bob's going to be with us for the rest of the hour. >> okay, you've got comments, questions about anything you see on "squawk," shoot us an e-mail, you can also follow us on twitter @squawkcnbc is our handle. when we return, the tragedy in newtown parking the gun control controversy in washington. we're going to talk about it, and then later, why hovnanian is betting on boomerang buyers. the company's ceo is here as we get ready for key housing data later this week.
washington has set up already. so we get some sort of clarity, some sort of a plan, that's what the businesses have been asking for but it's not going to change things until late 2013, if not into two 2014. >> i think you're right, they've made their plans. in the environment changes they have all this cash they can make changes and make increment at purchases. at a plant somewhere, hire a worker or two, engage in m&a if they have more confidence in the future. so i think they can...
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Dec 27, 2012
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thankfully, there was virtually nothing going on in washington. so it was an opportunity for all of us to catch up on our sleep here. >> i wonder, too, when we've looked towards the calendar, we have today, tomorrow, i guess monday being the 31st. what prospect do you expect of us hearing a deal before then. >> well, i certainly expect that now that obama is back in town he'll be trying to broker some sort of a deal with john boehner, the house of representatives, and there will be talks among democrats trying to explore whether they can put forth a new scaled down deal that could get past both the republican minority in the senate and get a vote on the floor of the house of representatives. and i think what the markets have to realize is that if the deal were to pass between now and the end of the year, it would first of all be a much more scaled down version of the grand bargain we've all been hoping for. at most, you will get an extension for the alternative minimum tax, but you would not get a serious delay in the so-called sequester, the auto
thankfully, there was virtually nothing going on in washington. so it was an opportunity for all of us to catch up on our sleep here. >> i wonder, too, when we've looked towards the calendar, we have today, tomorrow, i guess monday being the 31st. what prospect do you expect of us hearing a deal before then. >> well, i certainly expect that now that obama is back in town he'll be trying to broker some sort of a deal with john boehner, the house of representatives, and there will be...
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becky there in washington, d.c. all day coverage today on cnbc. you don't want to miss that. >>> and coming up on european "squawk box," this man could be the next prime minister of italy. try and catch that if you can. see you back here tomorrow.
becky there in washington, d.c. all day coverage today on cnbc. you don't want to miss that. >>> and coming up on european "squawk box," this man could be the next prime minister of italy. try and catch that if you can. see you back here tomorrow.
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Dec 13, 2012
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if washington goes over it. find out why when we come back. n if washington goes over it. find out why when we come back. f washington goes over it. find out why when we come back. is pretty amazing. we interact with our offices, anywhere, anytime. charles, you're one of the greatest losers of all time. thank you. >>> let's take a look at the european session. ibex has been flipping back and forth between positive and negative this morning. a debt auction from italy and spain went off relatively well this morning. the ftse lower by .14%. the xetra dax has been the underperfounde underperfo underperformer, down .3%. flipping over to the u.s. now, here is what's on the agenda today in the u.s. a triple play with jobless claims, retail sales and the ppi. retails sales are expected to rise .5% overall, but slipped 0.1% excludeing autos. producer prices are seen down except for the 0.1% gain expected when you strip out food and energy. so lower headlines, firmer core. and on the earnings front, look for results today from see area, peer one imports and adobe systems. here is a
if washington goes over it. find out why when we come back. n if washington goes over it. find out why when we come back. f washington goes over it. find out why when we come back. is pretty amazing. we interact with our offices, anywhere, anytime. charles, you're one of the greatest losers of all time. thank you. >>> let's take a look at the european session. ibex has been flipping back and forth between positive and negative this morning. a debt auction from italy and spain went off...
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Dec 5, 2012
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today's top story, a washington standoff continuing. fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
today's top story, a washington standoff continuing. fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
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thank you for being with us live from washington. remember, i hope you'll follow me on twitter and google plus. stay with cnbc, because "fast money" begins right now. see you back in new york tomorrow. >> and this is mission krill call, rise above washington, d.c. we're going to get to "fast money" in just a moment. but we've got to talk about what is going on here. you just heard maria's observation. she is not confident that a deal will get done. sadly, i feel the same way. especially after speaking with numerous lawmakers today. everybody seems very firmly entrenched, although eamon with the news just a moment ago that john boehner has indeed sent the president a counter offer, though republicans, to a man, complained today that they do not know what cuts the democrats would like to make. senator harry reid coming out earlier today, saying, we're not going to offer up any cuts. we want the gop to put their cuts on the table. it is clear it is a game of finger pointing, which party is going to be made to look like the bad guys, bec
thank you for being with us live from washington. remember, i hope you'll follow me on twitter and google plus. stay with cnbc, because "fast money" begins right now. see you back in new york tomorrow. >> and this is mission krill call, rise above washington, d.c. we're going to get to "fast money" in just a moment. but we've got to talk about what is going on here. you just heard maria's observation. she is not confident that a deal will get done. sadly, i feel the...
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>> i think it's going to be all about washington, d.c. i don't think these reports are going to shape markets in any way. it will be interesting to see the housing market report given the strong run that we've seen for the year. it should instill a bit of confidence. the price likely the going to be subdued going into the end of the session. it's all about the fiscal cliff talks. the recent setback that we have. we may have some sort of agreement on sunday, but i don't think markets are holing their breaths. >> just a couple of corporate stories here. bankia shares are down. we're seeing porsche move up 6% the last time i moved. what else is driving markets here in europe today? >> lonmin was an issue. markets looking at that story right now. also, it's one of those stories where with the mining sector, given what's going on in south africa, it goes on to that. overall, it's busy on the corporate front and, again, it's just about the fiscal cliff talks and that's something that we would be looking after in the course of the day. >> we'll
>> i think it's going to be all about washington, d.c. i don't think these reports are going to shape markets in any way. it will be interesting to see the housing market report given the strong run that we've seen for the year. it should instill a bit of confidence. the price likely the going to be subdued going into the end of the session. it's all about the fiscal cliff talks. the recent setback that we have. we may have some sort of agreement on sunday, but i don't think markets are...
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Dec 31, 2012
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john harwood in washington. i want to bring you up to date on the latest of the talks between vice president biden and mitch mcconnell. there's some concern among democrats who have heard that the income threshold for tax rate increases may be going up to 400, 450, $500,000. a source familiar with the talks just phoned me to say the democrats are only considering that under a couple of conditions. one is that if the threshold goes up to that level, the top income tax rate would go all the way back up to the clinton era rate of 39.6%. not some mid point of 37% talked about a couple of weeks ago. secondly, that it would be accompanied by more revenue from the estate tax than is happening under current policy. remember, current policy is 35% tax on estates of $35 million or more. democrats are going to be insisting on somewhat more revenue than that, if not all the way up to the level in president obama's budget. finally, that an agreement would include a significant extension of unemployment benefits. remember, th
john harwood in washington. i want to bring you up to date on the latest of the talks between vice president biden and mitch mcconnell. there's some concern among democrats who have heard that the income threshold for tax rate increases may be going up to 400, 450, $500,000. a source familiar with the talks just phoned me to say the democrats are only considering that under a couple of conditions. one is that if the threshold goes up to that level, the top income tax rate would go all the way...
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is this going to shift sentiment an awful lot bearing in mind discussions in washington? >> probably not. we got the big distortions from san sandy. slowly working through that. so i think if there's an outlier, investors will yawn and wait for the big nonfarm payroll report tomorrow. >> are we comfortable mf-i don't know how comfortable we are. consumers seem to be in better fettl eflt. >> in spite of this anemic job growth that we've had during the entire jobless recovery, it seems like consumers sense the -- their balance sheets have improved pretty dramatically. so, yeah, consumers -- and that's led to consumers spending slightly more than what experts thought they would spend. >> so you're overweight large cap versus small cap. why? >> the large cap u.s. multinationals, they typically have overseas subsidiaries that can reach into the emerging pockets of growth. i like the dividends payers, as well, because in these choppy markets which we'll continue to have get nice dividends. >> all right much ha. . have a good day. that's it for today's program. "squawk box" it i
is this going to shift sentiment an awful lot bearing in mind discussions in washington? >> probably not. we got the big distortions from san sandy. slowly working through that. so i think if there's an outlier, investors will yawn and wait for the big nonfarm payroll report tomorrow. >> are we comfortable mf-i don't know how comfortable we are. consumers seem to be in better fettl eflt. >> in spite of this anemic job growth that we've had during the entire jobless recovery,...
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majority leader harry reid telling his fellow colleagues that they should be prepared to come back to washington on december 26th, to deal with, among other things, a solution to the fiscal cliff crisis. that implies that they might not get the votes before christmas but might have in mind a session before new year's eve to get this all resolved. the other tea leaf that we got was speaker john boehner, who went to the white house today, met with treasury secretary geithner and president obama. he didn't answer any reporters questions, as you can see him returning right here. but we do know that the speaker has now put on the table raising the top rates for those people who make more than $1 million a year. now, that's a concession in terms of raising rates that the speaker had not been willing to offer before. so, clearly, melissa, there's some progress in these behind the scenes negotiations. what we don't know is where this thing is going to end up. the speaker said in his latest public offer he's willing to go about as high as $1 trillion in new tax revenue. the president has said that he wan
majority leader harry reid telling his fellow colleagues that they should be prepared to come back to washington on december 26th, to deal with, among other things, a solution to the fiscal cliff crisis. that implies that they might not get the votes before christmas but might have in mind a session before new year's eve to get this all resolved. the other tea leaf that we got was speaker john boehner, who went to the white house today, met with treasury secretary geithner and president obama....
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>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for weed as if you just snapped your fingers. how do you make sure this stays out of the hands of those who are under 21? >> well, we've seen in colorado already a fully regulated market that is serving 120,000 medical marijuana patients and no reports of any marijuana being diverted from those stores to teens and moreover while the use of marijuana among teens has gone up 11% nationally, it's actually gone over the past two years 11% in colorado. so what we see is a regulated market that can keep marijuana out of the hands of teens and we hope the federal government and president obama don't stand in the way of p
>> that's washington state and not washington d.c. >> sorry. >> it's different in colorado. it's only 15% exise tax in colorado. the market needs to shake itself out. at this point there's a huge additional cost built into the price of marijuana based on the fact that it's sold in a criminal market. once it is licensed and regulated, the price will certainly go down to some extent. >> how confident are you -- you talk about setting up a regulated functioning market for...
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i want to talk to you specifically about something else going on in the washington. you were no fan of the president in the run up to the election and there were so many people on wall street who frankly were not fans and were outspoken about it. now, there seems to be a move afoot within washington and some level on wall street to try to mend those fences. what's going on? can you take us behind the scenes a little bit? >> i think it's pretty clear we're supposed to be one country. we have a new president, we have a four year run and i think people have to find some common ground. i think the president is reaching out pretty aggressively in the context of trying to make connections to the other side to get a budget deal done which i think he's really very committed to wanting to do. >> when you look at the election results, and you look at where we are in this conversation about the fiscal cliff and raising taxes, do you say to yourself, that he has a mandate to raise tax rates or not? >> well, geez, i think he thinks he does in a certain way. i think that the numbe
i want to talk to you specifically about something else going on in the washington. you were no fan of the president in the run up to the election and there were so many people on wall street who frankly were not fans and were outspoken about it. now, there seems to be a move afoot within washington and some level on wall street to try to mend those fences. what's going on? can you take us behind the scenes a little bit? >> i think it's pretty clear we're supposed to be one country. we...
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. >> washington. and our special coverage of the fiscal cliff continues and our guest host cliff robbins is here. we've got to talk to him. at 8:30 a.m. eastern. bob corker, remember his comments from yesterday, also democratic senator kent conrad who is not trying to get re-elected, so he may be forthcoming today on the path to compromise. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. at your local wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> what i care about i
. >> washington. and our special coverage of the fiscal cliff continues and our guest host cliff robbins is here. we've got to talk to him. at 8:30 a.m. eastern. bob corker, remember his comments from yesterday, also democratic senator kent conrad who is not trying to get re-elected, so he may be forthcoming today on the path to compromise. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter...
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Dec 4, 2012
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you can sort of knefeel it with what's happening in washington. plus how many people are selling stocks just because they'll take their gains this year. because taxes will be higher next year. >> you're seeing people with if you have a large position in a company, this is probably the right time to take it. if it's a large percentage, 10%, 15%, 20% of your net worth, sell it now. >> and if you're planning to retire in the next three to five years, you're probably better off doing your allocation change thousand than you are saying -- >> this might be awful next year, too. isn't moynihan going to -- if we go over the cliff, it's not going to be a great year for stocks. >> it won't be a great year for hiring. >> left's already started. everybody is hiring temporary workers. they're not buying. they're leasing. you have more up front costs because you're trying to defer any long tirm purchase. but that's been happening now for two months. so you can look at the other way and say if we actually get a resolution, you might have more certainty which we'
you can sort of knefeel it with what's happening in washington. plus how many people are selling stocks just because they'll take their gains this year. because taxes will be higher next year. >> you're seeing people with if you have a large position in a company, this is probably the right time to take it. if it's a large percentage, 10%, 15%, 20% of your net worth, sell it now. >> and if you're planning to retire in the next three to five years, you're probably better off doing...
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hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. to the best vacation sp(all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana
hampton pearson in washington. >> the gift that keeps on giving. we're talking about market wisdom. what you need to know ahead of the opening bell. and whether you're a holiday traveler or investor, you want to hear about the state of the airline industry. let's take a look at futures one last time before the holiday shortened session. about ten points down on the dow. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one...
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let's get some breaking news in washington. ayman? >> carl, this is actually breaking political news. today announcing new regulations on so-called 501 tax-exempt organizations that engaged in electioneering under federal law as it stands right now, they're allowed to engage in electioneering and not reveal who their donors are. now schneiderman in new york saying the state is going to require them to reveal if they spend up to $10,000 in that state. the groups that spend at least $10,000 to influence state and local elections in new york will be required to file itemized schedules and disclose their donors. potentially interesting move here by new york state. we'll have to see if other states follow this one, carl. >> nonprofits have a lot to deal with. >> oh, boy. >> thank you for that. before we go, jim, tonight -- >> first time since the cooper acquisition, they've become a power management company. mark papa, he's been on my show. he's at the heart of why we're becoming a great energy producer again, because he's got both eaglefo
let's get some breaking news in washington. ayman? >> carl, this is actually breaking political news. today announcing new regulations on so-called 501 tax-exempt organizations that engaged in electioneering under federal law as it stands right now, they're allowed to engage in electioneering and not reveal who their donors are. now schneiderman in new york saying the state is going to require them to reveal if they spend up to $10,000 in that state. the groups that spend at least $10,000...
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and it's the way washington used to work. people used to socialize together, whether they were democrats or republicans. they built an entire notion on the company that you can get democrats and republicans to work together to solve business and brand challenges. that's the key issue. >> they don't know each other. they don't socialize each other. there's a taint with doing it. let me give you an idea. we've got a fiscal cliff now. we have the fiscal abyss next year. we need to say, don't come home. no deal, no break. members should be in washington at least five days a week like every other american and not leave until they deal with the fiscal cliff this year or until we get a grand bargain next year. they would pull off seven times more days -- >> david faber tweeted this morning that they should be locked in a room and forced to listen to the animal orchestra until they have a deal. >> david faber's hair. >> you put them in a room. you tell them they're going to sit there until the deal is done. day three, no more food. d
and it's the way washington used to work. people used to socialize together, whether they were democrats or republicans. they built an entire notion on the company that you can get democrats and republicans to work together to solve business and brand challenges. that's the key issue. >> they don't know each other. they don't socialize each other. there's a taint with doing it. let me give you an idea. we've got a fiscal cliff now. we have the fiscal abyss next year. we need to say, don't...
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this comes as washington welcomes a high-level chinese delegation led by the vice premier. his team is in the u.s. to talk trade and economy. he's expected to meet with u.s. treasury secretary tim geithner tomorrow. wang is the first official from the new leadership team to visit with the u.s. for more on the impact and implications of this, let's speak with frank ching, adjunct associate professor at the chinese university of hong kong. frank, hi. the first news that we're getting out of this appears to be more import duties s. this going to be the theme of u.s./china relations, or do you expect these meetings to be more of a thaw? >> well, i think that these are the first meetings since the new leadership in china was installed. and since president obama saw -- well, won second term. i think both sides want to make use of this occasion to improve their relationship. so this joint annual meeting is a platform, and i think that they will probably be able to achieve some progress on issues of concern to both sides. but i don't see any sweeping changes. >> what's interesting,
this comes as washington welcomes a high-level chinese delegation led by the vice premier. his team is in the u.s. to talk trade and economy. he's expected to meet with u.s. treasury secretary tim geithner tomorrow. wang is the first official from the new leadership team to visit with the u.s. for more on the impact and implications of this, let's speak with frank ching, adjunct associate professor at the chinese university of hong kong. frank, hi. the first news that we're getting out of this...
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we'll start in washington. president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the republican unity. that suggests we may be getting to the next phase of negotiations. the latest sign was possible corker, the senator from tennessee, who was on our air just a few minutes ago, as you know, saying republicans should concede ground on top tax rates and then get on to other issues. >> the best place for republicans to be, to me, is to pass the rate of rate increases, be done with it, the numbers aprobably much smaller than is going to ultimately be negotiated, and then we still are focused on the right thing, which is enti
we'll start in washington. president obama, speaker boehner met face-to-face over the weekend to talk some fiscal cliff. our john harwood is live at the white house with more on that. john, good morning. >> good morning, carl. you know the president's been very clear since the election that republicans need to give on taxes for people at the top and not just on revenues, but also on tax rates because he says the math can't work otherwise. we've seen some signs of cracking in the...
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a lot of people watching what's happening in washington. negotiations continue and we are all trying to figure out what's happening at this point. house republicans have announced plan b, that's in case the talks fail. that plan b would move to pass their own tax bills and automatic budget cuts set to happen next month. actually, it would not avert the automatic budget cuts. that would still be in there. from everything we heard, the automatic sequestration budget cuts would continue. it would only avert the tax portion of that and extend low tax rates except on those with incomes a million dollars and above. president obama's latest position puts the threshold at $400,000. no one is expecting the gop bill will pass the democratic senate. harry reid saying it won't. each side continuing to say the other's fiscal cliff positions are not balanced. we have watched the markets and they have thrown through this rhetoric. the dow futures are up after yesterday gaining the day before that, too. overseas in asia, you saw gains in tokyo, that market
a lot of people watching what's happening in washington. negotiations continue and we are all trying to figure out what's happening at this point. house republicans have announced plan b, that's in case the talks fail. that plan b would move to pass their own tax bills and automatic budget cuts set to happen next month. actually, it would not avert the automatic budget cuts. that would still be in there. from everything we heard, the automatic sequestration budget cuts would continue. it would...
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in washington. that's right. but we got -- all the s.b. >> you know, erskine, when you look at what the odds are, the argument in the past has always been, i needed to talk about this a little earlier this morning, the idea that we will get some sort of higher rates now. the argument from the republicans has been if we agree to higher tax cuts now and agree to spending cuts later we're going to get the short end of the stick because that never happens. what do you think is the fair way they should be thinking about this, and a realistic way? >> i think if they agree to higher rates now in some form that you'll see these others fall into place really quickly. the president has signaled he's prepared to do some things on entitlement cuts now. i could envision some that he would do. you saw, as example, i don't think durbin would have been out there saying that he could live with something like means testing if he wasn't serious about it. >> mm-hmm. >> i would like to see, you know, i'd like to see something done wi
in washington. that's right. but we got -- all the s.b. >> you know, erskine, when you look at what the odds are, the argument in the past has always been, i needed to talk about this a little earlier this morning, the idea that we will get some sort of higher rates now. the argument from the republicans has been if we agree to higher tax cuts now and agree to spending cuts later we're going to get the short end of the stick because that never happens. what do you think is the fair way...
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the clock ticks towards the fiscal cliff deadline. >> will investors keep a close eye on washington this week? you bet. we'll preview the trading day when we come back. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> japan's prime minister election shinzo abe is putting the heat on the boj just one day after his party's huge win and two days before the bank's next rate setting meeting. in turn, you can see the yen's response in trade this morning, now down -- well, we should say the yen is weakening against the dollar, .75% lower now. that's more than even the first time we checked in earlier this morning. 83.68 is the level and our guests this morning have indicated that the yen perhaps could go to 90 next year. some say even a more disorderly weakening could happen. but at the same time, we're hearing our nomura guest saying he doesn't think so. we're going to stay roughly at these levels because it's the u.s. that matte
the clock ticks towards the fiscal cliff deadline. >> will investors keep a close eye on washington this week? you bet. we'll preview the trading day when we come back. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> japan's prime minister election shinzo abe is putting the heat on the boj just one day after his...
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washington slammed the move as provocative while china and russia expressed regret. for more we're joined from by beijing by nbc reporter ian williams. ian, it seems to be a secretary launch. certainly more successful than one earlier in the year. what is the reaction there? >> reporter: that's right, rot. certainly more successful because, of course, that rocket earlier in the year burned out shortly after it left the ground. now across the region, there's been anger and dismay. but also a little bit of surprise because it had looked at the week, at the weekend like this launch might be delayed. the north incited technical reasons, but there was speculation that perhaps china, which had expressed deep concern, was putting pressure on behind the scenes. now a lot of the outrage we've seen has been predictable from japan, from south korea, from the u.s. but the chinese reaction has been a little bit more nuanced. they expressed that deep concern ahead of the rocket launch. and today they were wrapping themselves up in diplomatic contortionism if finding a way of respo
washington slammed the move as provocative while china and russia expressed regret. for more we're joined from by beijing by nbc reporter ian williams. ian, it seems to be a secretary launch. certainly more successful than one earlier in the year. what is the reaction there? >> reporter: that's right, rot. certainly more successful because, of course, that rocket earlier in the year burned out shortly after it left the ground. now across the region, there's been anger and dismay. but also...
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>> they don't want to spend christmas in washington, do they? >> you have thursday, friday and monday, right? >> you have a lot of aides prepared to come back after christmas to try and make sure they're not too far away from d.c. it does look encouraging. you've had movements on both sides. you've had boehner indicating that he's willing to accept and rising tax rate for the wealthiest. at the same time, you've had the president scaling back the limit to which those tax rates go up the. >> and they're not arguing about idealogical points any more. >> exactly. >> and what about the debt ceiling? do you think this gets thrown to the mix or not? >> well, i think the white house knows very strongly that as far as the markets are concerned, they want to try and get some kind of clarity for the next few months. after the last couple of years, no one really trusts the government or trusts the administration to not have a series of crisis and tiptoeing to the edge. so my bet is they will try to get some sort of deal. >> who has more trouble convincing
>> they don't want to spend christmas in washington, do they? >> you have thursday, friday and monday, right? >> you have a lot of aides prepared to come back after christmas to try and make sure they're not too far away from d.c. it does look encouraging. you've had movements on both sides. you've had boehner indicating that he's willing to accept and rising tax rate for the wealthiest. at the same time, you've had the president scaling back the limit to which those tax rates...
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cover of "the washington post" today. why doesn't the market care, right? >> i think the market doesn't understand to some degree. there's a whole new school of thought that says it would be good. another school of thought that says it doesn't matter that much. they created the cliff to be able to drive us into recession to force compromise. it's rise above. to think that this won't mean anything is just -- i don't know. i think it's silly. >> we do have some other things to balance it out whether it is china today or -- >> freeport. i'm stunned by freeport. come on "squawk on the street" and tell us why you think this is a decent deal. >> no stranger to our airwaves. >> he should call in right now. why is this a good deal for shareholders? you have destroyed your own stock. >> we'll see you tonight, jim. when we come back, we're moments away from potential market mover. breaking news on ism services is coming up and factory orders plus the president as we said talking to business roundtable about fiscal cliff. he'll take questions at 10:50 a.m. don't miss
cover of "the washington post" today. why doesn't the market care, right? >> i think the market doesn't understand to some degree. there's a whole new school of thought that says it would be good. another school of thought that says it doesn't matter that much. they created the cliff to be able to drive us into recession to force compromise. it's rise above. to think that this won't mean anything is just -- i don't know. i think it's silly. >> we do have some other things...
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in washington, the capitol hill christmas tree will be lit tonight. john boehner will pull the switch in a hospital of holiday inn duesed n induced nonpartisa. >> that's the look ahead today. we've had a few technical problems with getting our licks up to north america which is why we've had a number of guests stacking up, but i'm assured we're working on them. we will talk about the ski season, as well. before that, let's remind you what the headlines are today. fiscal cliff talks set to drag ons as budget proposal by republicans dismissed by the white house. banking union talks taking central stage in brussels. finance ministers trying to find a deal. and australia central bank has cut interest rates to its lowest level since the financial crisis. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? can i still ship a gift in time for christmas? yeah, sure you can. great
in washington, the capitol hill christmas tree will be lit tonight. john boehner will pull the switch in a hospital of holiday inn duesed n induced nonpartisa. >> that's the look ahead today. we've had a few technical problems with getting our licks up to north america which is why we've had a number of guests stacking up, but i'm assured we're working on them. we will talk about the ski season, as well. before that, let's remind you what the headlines are today. fiscal cliff talks set to...
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when we come back who do americans really hold responsible for gridlock in washington? we'll find out. >>> co-chair of the campaign to fix the debt former senator judd gregg joins us live to tell us why congressional leadership could be standing in the way of a solution. >>> first rick santelli is working for something later on in the hour. >> in about ten minutes we're going to have ira harris and have some interesting topics. ira harris has a notion of who may be most impacted if we go over the fiscal cliff and i don't think you'll be expecting the answer he'll give and touch on mario draghi and ecb, maybe a little berlusconi all coming up in ten minutes. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more i
when we come back who do americans really hold responsible for gridlock in washington? we'll find out. >>> co-chair of the campaign to fix the debt former senator judd gregg joins us live to tell us why congressional leadership could be standing in the way of a solution. >>> first rick santelli is working for something later on in the hour. >> in about ten minutes we're going to have ira harris and have some interesting topics. ira harris has a notion of who may be most...
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this meeting came after a day of frustration in washington as both sides criticized each other for lack of progress. >> republicans want to solve this problem by getting the spending line down. the president wants to pretend the spending isn't a problem. that's why we don't have an agreement. >> speaker boehner can't ignore the american people forever. at some point, reality should set in. the only question is how much financial stress middle class families and our entire economy will have to endure during this process. >> well, the clock is ticking. so is a resolution before the end of the year likely? let's of the pose that question to tony fratto. and a cnbc contributor. tony, good morning. are we actually going to get a deal? >> morning, kelly. boy, before the end of the year, i think that was your standard. i think it's getting to be more and more unlikely, kelly. i think when you see the kind of language and -- but actual language and body language that we saw yesterday, it looks farther away. but, look, i've long felt that this was a deal that could only happen after the new year
this meeting came after a day of frustration in washington as both sides criticized each other for lack of progress. >> republicans want to solve this problem by getting the spending line down. the president wants to pretend the spending isn't a problem. that's why we don't have an agreement. >> speaker boehner can't ignore the american people forever. at some point, reality should set in. the only question is how much financial stress middle class families and our entire economy...
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john harwood in washington. chief market strategist with russell investments joining us here at post 9, and the chief national investment strategist with wells fargo advisers. good morning to both of you. >> good morning. >> how does this weigh on your thesis for the near term? >> the question is in the details. our base case for the russell forecast is we do not have a recession in 2013. the majority of these larger issues are dealt with. but there's going to be a fiscal drag either way. the way we see this at housing contributing in a positive to the economy, offset a lot of the fiscal destabilizers. but i think there's a lot of overlap right now. they're squabbling over details. i think we need to keep in perspective, this is the first time in america we've m a serious substantive conversation about balancing the budget. it's not a bad first start. >> next year you're looking for 1,500 by year end? >> that's our target sale. single digits for the equity market seems reasonable. no great shakes. >> paul, you'r
john harwood in washington. chief market strategist with russell investments joining us here at post 9, and the chief national investment strategist with wells fargo advisers. good morning to both of you. >> good morning. >> how does this weigh on your thesis for the near term? >> the question is in the details. our base case for the russell forecast is we do not have a recession in 2013. the majority of these larger issues are dealt with. but there's going to be a fiscal drag...
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dave, you are headed to washington. let us know what's happening. >> he's going to fix it. >> we're going to have pizza. >> make sure you join us tomorrow. "squawk on the street" is next. ♪ >>> led zeppelin to wash away monday blues. congrats to the band for winning kennedy center honors last night. welcome to "squawk on the street." i'm carl quintanilla along with jim cramer, david faber live at nyse. melissa will join us in the next hour. we're kicking off the month of december with strength. anticipating good auto numbers today. greece unveiling that $10 billion eurobond buyback. a 52-week high in france and germany. our road map this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad.
dave, you are headed to washington. let us know what's happening. >> he's going to fix it. >> we're going to have pizza. >> make sure you join us tomorrow. "squawk on the street" is next. ♪ >>> led zeppelin to wash away monday blues. congrats to the band for winning kennedy center honors last night. welcome to "squawk on the street." i'm carl quintanilla along with jim cramer, david faber live at nyse. melissa will join us in the next hour. we're...
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this guy works as a consee arj in a powerful washington d.c. building. his passion to give back to his hometown in africa has now inspired a whole community. [ male announcer ] this december, remember -- you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. call today to request a free decision guide to help you better understand medicare and which aarp medicare supplement plan works
this guy works as a consee arj in a powerful washington d.c. building. his passion to give back to his hometown in africa has now inspired a whole community. [ male announcer ] this december, remember -- you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. now is a good time to think about...